The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
China sees India and Japan's 'North East Road Network Connectivity Improvement Project' as a challenge to its OBOR, says Rajaram Panda.
The ministry's year-end review is silent on the continued occupation by Chinese troops of territory that India has always claimed and patrolled.
Xi arrived at the Nyingchi Mainling Airport on Wednesday and was warmly welcomed by local people and officials of various ethnic groups, Xinhua news agency reported.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
The focus of the Union Budget is on providing basic amenities to the poor, middle class and youth, Prime Minister Narendra Modi said on Wednesday, and asserted that it is imperative that India becomes self-reliant.
The economy is growing at 7.5-8 per cent, the finance minister said.
India needs to tread cautiously on the growth path.
Political stability and a couple of big projects are pluses, but focus on medium and small industries is still missing.
Amid rupee sliding below 64 to a dollar, global agency Standard & Poor's on Tuesday said it will maintain negative outlook for the country as currency depreciation is adversely impacting investor confidence.
China's economy, which suffered 6.8 per cent slump in the first quarter due to the coronavirus pandemic -- the worst in 44 years -- bounced back posting 4.9 per cent growth between July and September buoyed by the government's sweeping efforts to stimulate demand and consumption.
While demonetisation will benefit the organised sector, the government has to find a way to channel the upcoming revenue buoyancy towards job creation to balance out job losses in the informal sector, says Akash Prakash.
The BRICS stressed on resolution of conflicts in a declaration issued after a virtual meeting of foreign ministers of the member nations of the grouping. The meeting was attended by External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi.
Modi announced a USD 14-million grant for community development projects in the Caricom and another USD 150 million line of credit for solar, renewable energy and climate- change related projects, a statement released by the Ministry of External Affairs said.
There are good reasons to believe that India is at the start of a long period of growth for equities.
Majority expect economy to slow down, but are satisfied with Modi govt's performance.
Modi's visit to some developed countries such as the US, Japan, China and Australia were sprinkled with humongous investment figures. But do we have the wherewithal to absorb such big investments?
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
Managing expectations is a challenge for policymakers.
'The COVID-19 pandemic must push the military into a long-term reconsideration of its primary challenges.' 'There must be greater emphasis on humanitarian aid and disaster relief including the management of contagious illnesses and impending crises caused by climate change,' notes Ajai Shukla.
The 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
Indian govt is trying hard to get global investors to invest in the country.
The president's spending plan for the fiscal year that begins on October 1 proposes a rise in the minimum wage and for new spending on infrastructure.
The 'Make in India' vision cannot survive in the long-term without concrete measures to build a concurrent 'Create in India' movement.
The markets gained nearly 7 per cent in the 4 trading sessions of March.
An analysis of the National Housing Bank's Residex shows from 2007 to now, almost all tier-II cities have seen their residential property prices appreciate by 45-120 per cent.
Entrepreneurship, education and training will be provided in 2,200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through massive open online courses.
Rejecting criticism of tardy relief operations in flood-ravaged Uttarakhand, Union Finance Minister P Chidambaram has said government was making all efforts and complimented armed forces personnel for their untiring efforts in rescuing the stranded people.
The minister would be accompanied by Finance Secretary Arvind Mayaram and other finance ministry officials.
India and Iran on Monday decided to jointly combat terror, radicalism and cyber crime as the two strategic partners signed 12 agreements including a "milestone" pact on developing the key Chabahar port for which India will provide $500 million.
The prime minister and president stated their intention to expand defence co-operation to bolster national, regional and global security.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
Modi's visit to Spain will be first visit by an Indian prime minister since 1988.
The minister, however, said that there are challenges to boost the manufacturing sector
The expectation that Mr Modi would be a major reformer, capable of reinvigorating the Indian economy, were based on a complete misreading of both his actions and his performance as Gujarat chief minister, says Mihir S Sharma.
'Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the Centre and the states could ease the cost-push pressures,' the Monetary Policy Committee (MPC) has said.
The study paper by Melbourne-based think-tank Australia India Institute titled 'The G20: Challenges and opportunities Ahead', said following Prime Minister Narendra Modi's visit to the US and his talks with US President Barack Obama, India may finally sign the agreement.
He made a reference to the clash between Indian and Chinese troops in Ladakh's Galwan Valley in June this year. "What our jawans can do, what the country can do, the world has seen in Ladakh," he said.
